Colorado (United States of America)

The Government of Colorado is the governmental structure as established by the Constitution of the State of Colorado. It is composed of three branches:

• The Legislative branch consisting of the General Assembly, it is a bicameral legislature;
• The Executive branch headed by the Governor;
• The Judicial branch consists of the Supreme Court and lower courts.

According to The Bureau of Economic Analysis, the GSP of Colorado estimates for 2019 was $353.08 billion. Colorado's per capita personal income in 2019 was $61,311.

The state's economy is diversified and is notable for its concentration of scientific research and high-technology industries. Other industries include food processing, transportation & logistics, chemical products, mining, and tourism. Denver is an important financial center in Colorado.

Currency:

United States Dollar (USD)

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The business laws of Colorado are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Colorado are familiar to many lawyers both in the US and internationally. Colorado has a common law system.

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Type of Company/Corporation:

One IBC supply incorporation in Colorado service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.

Business Restriction:

The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.

Company Name Restriction:

The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";

• May contain the name of a member or manager;
• Must be such as to distinguish it upon the records in the office of the Secretary of State from the name on such records of any corporation, partnership, limited partnership, statutory trust or limited liability company reserved, registered, formed or organized under the laws of the State of Colorado or qualified to do business.
• May contain the following words: "Company," "Association," "Club," "Foundation," "Fund," "Institute," "Society," "Union," "Syndicate," "Limited" or "Trust" (or abbreviations of like import)

Company Information privacy:

No public register of company officers.

Just 4 simple steps are given to start a business in Colorado:

• Step 1: Select basic Resident/Founder nationality information and other additional services that you want (if any).
• Step 2: Register or log in and fill in the company names and director/ shareholder(s) and fill in the billing address and special request (if any).
• Step 3: Choose your payment method (We accept payment by Credit/Debit Card, PayPal, or Wire Transfer).
• Step 4: You will receive soft copies of necessary documents including Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in Colorado is ready to do business. You can bring the documents in the company kit to open a corporate bank account or we can help you with our long experience of Banking support service.

* These documents required to incorporate a company in Colorado:

• Passport of each shareholder/beneficial owner and director;
• Proof of residential address of each director and shareholder (Must be in English or certified translation version);
• The proposed company names;
• The issued share capital and par value of shares.

Read more:

How to start a business in Colorado, USA

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Share Capital:

There is no minimum or a maximum number of authorized shares since Colorado incorporation fees are not based on the share structure.

Director:

Only one director required

Shareholder:

Minimum number of shareholders is one

Colorado company taxation:

Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.

• Us Federal Taxation: US Limited Liability companies structured for partnership tax treatment with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return.
• State Taxation: US limited liability companies that conduct no business in the recommended states of formation with non-resident members are generally not subject to state income tax and are not required to file a state income tax return.

Financial statement

Local Agent:

Colorado law requires that every business have Registered Agent in the State of Colorado who may be either an individual resident or business that is authorised to do business in the State of Colorado

Double Taxation Agreements:

Colorado, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Colorado taxation for taxes paid in other states.

In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.

License Fee & Levy:

Most Business License fees are $110 in Colorado. The fee for late renewal is 50% of the license fee in addition to the license fee.

Required background check for Private Security Officers and several other licenses is an additional $7.

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Payment, Company return due date:

All LLC companies, corporations are required to update their records, either annually or biannually.

Corporate income tax returns are due on the fifteenth day of the fourth month after the end of your tax year, or by April 15 annually. for traditional calendar year filers. If you are unable to file by your prescribed due date, you may file under extension. This will allow you an additional six months to file your return, or until October 15 for calendar year taxpayers.